AstraZeneca licenses non US rights to Entocort (budesonide) to Tillots Pharma AG for Crohns disease and colitis.
AstraZeneca announced that it has entered into an agreement with Tillotts Pharma AG , part of the Zeria Group, for the divestment of global rights, outside the US, to Entocort (budesonide), a gastroenterology medicine for patients with mild to moderate Crohn’s disease and ulcerative colitis. Entocort is currently available in over 40 countries, with total product sales of $53 million outside the US in 2014. A regulatory submission for Entocort in Japan is anticipated in the coming months.
Under the terms of the agreement, Tillotts will pay AstraZeneca $215 million upon completion of the transaction to acquire the rights to sell and develop Entocort capsules and enema formulations outside the US. The transaction does not include the transfer of any AstraZeneca employees or facilities.
Comment: AstraZeneca has a partnership with Par Pharmaceutical for the commercialisation of Entocort in the US which now has generic competition.
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